2025-03-12T09:05:51.994+02:00
Wednesday, 12/03/2025 | 07:05 GMT by
Damian Chmiel
- XRP’s price has bounced off the psychological support at $2 once again this year.
- The cryptocurrency market was boosted by Donald Trump’s withdrawal of plans for additional tariffs on Canada.
- A 7.5% surge marked one of XRP’s strongest single-day moves in 2025.
Let’s check why is XRP price going up today
The
cryptocurrency market is buzzing once again, and XRP, the native token of the
XRP Ledger, is stealing the spotlight. As of today, March 12, 2025, XRP’s price
is climbing, leaving investors and traders asking: Why is XRP price going up
today?
Several key
developments from yesterday and today—both in the crypto space and broader
economic landscape—are fueling this surge. From regulatory shifts to
macroeconomic factors and legislative proposals, here’s a detailed, up-to-date
look at the most important reasons behind XRP’s upward momentum.
What Is the XRP Price
Today? XRP Rose 7.5% in One Day
As of
today, Wednesday, March 12, 2025, XRP’s price is testing the $2.24 level,
rebounding sharply from the local support zone near the psychological level of
$2. This marks the continuation of an almost 8% bounce from Tuesday when, after
testing its lowest levels since February and dropping to $1.89, the
cryptocurrency staged a noticeable recovery.
The support
level that has been forming over the past three months has once again been
defended, along with the 200 EMA, which separates the long-term bull trend from
the bear trend. Over the last 24 hours, XRP has been one of the top gainers,
rising 2.6%, according to CoinMarketCap data. Alongside XRP, Bitcoin is up
1.6%, and BNB has gained 1.9%, while Ethereum and Tron have recorded declines
of 1.5% and 3.7%, respectively.
What is the XRP price today? Source: CoinMarketCap
Why is
XRP’s price rising? Let’s take a closer look!
You may also like: New Price Forecasts Show If XRP Can Reach $100
Why Is XRP Rising? 5 Main
Reasons1. U.S.-Canada Trade War
Eases, Lifting Risk Assets
Macroeconomic
factors are playing a huge role in XRP’s rise. Yesterday, March 11, 2025, the
U.S.-Canada trade war made headlines as President Donald Trump doubled metals
tariffs before abruptly backing off. Initially, the tariff hike raised fears of
a global trade conflict, dragging down risk assets like cryptocurrencies.
However, Trump’s decision to pause the tariffs—announced late on March 11—eased
tensions, boosting demand for riskier investments.
This shift
was a relief for crypto markets, which had seen a market-wide correction
earlier in the week due to tariff-related uncertainty. With Canada agreeing to
bolster border security and Mexico deploying troops to curb illegal activities,
the de-escalation has restored confidence. XRP, alongside Bitcoin (BTC) and
Ethereum (ETH), rebounded as investors returned to the market, contributing to
today’s price uptick.
President Trump launched an unprovoked trade and tariff war with America’s closest friend and ally. Until the threat of tariffs is gone for good, we won’t back down. pic.twitter.com/eH85Dv0iJO
— Doug Ford (@fordnation) March 11, 20252. Lummis’ Revamped
BITCOIN Act Sparks Crypto Reserve Speculation
Another
major catalyst emerged yesterday when Senator Cynthia Lummis reintroduced her
Boosting Innovation, Technology, and Competitiveness through Optimized
Investment Nationwide (BITCOIN) Act of 2025. The revamped legislation proposes
that the U.S. government acquire and hold over 1 million BTC—approximately 5%
of Bitcoin ’s total supply—through lawful means like forfeitures and gifts,
rather than direct purchases. While the bill focuses on Bitcoin, it has broader
implications for the crypto ecosystem, including XRP.
The BITCOIN
Act signals a pro-crypto stance from U.S. lawmakers, reigniting speculation
about a multi-currency strategic reserve. President Trump’s earlier
announcement on March 2, 2025, named XRP alongside BTC, ETH, Solana (SOL), and
Cardano (ADA) as potential reserve assets. Although his January executive order
prioritized Bitcoin, the possibility of XRP’s inclusion remains alive,
especially with Lummis’ influence.
NEW: 🇺🇲 Senator Lummis to reintroduce the BITCOIN Act!
Key provisions:
– 1M BTC purchased over 5 years
– 20 year HODL (minimum) pic.twitter.com/29oogAJWot
— Fiat Archive (@fiatarchive) March 11, 20253. Institutional Adoption
and ETF Hype Gain Traction
Institutional
interest in XRP is surging, adding further momentum to its price rise. As of yesterday, 500 banks now offer XRP custody services—a development that enhances
its integration into global financial systems. While this figure awaits
verification, it underscores XRP’s growing appeal for cross-border payments, a
use case Ripple has long championed.
Additionally,
the race for a spot XRP exchange-traded fund (ETF) is heating up.
